First Bank Opens in Negev; Extends 24,000 Pounds in Loans to Settlers and Bedouins

The Kupat Milve Bank opened last month in Beersheba–the first banking office in the Negev–has already extended 24,000 pounds in loans to settlers in the southern desert, it was announced today. Sixty percent of the loans were granted to former veterans who have settled in the Negev, while about 4,000 pounds was loaned to Bedouins for the purchase of seed.

Israel’s system of settling thousands of immigrants on the land and in urban areas will be inspected this week by the secretary of the Indian Cooperative Union, who arrived at Lydda today via Philippine Airlines. The Indian official declared upon his arrival that “we, too, have our refugees to settle–about 7,000,000 persons who crossed into India from Pakistan.”